Semrush (NASDAQ:SEMR) Reaches New 1-Year High - Here's What Happened

Shares of Semrush Holdings, Inc. (NASDAQ:SEMR - Get Free Report) reached a new 52-week high on Wednesday . The company traded as high as $18.74 and last traded at $18.06, with a volume of 539730 shares. The stock had previously closed at $18.37.

Analysts Set New Price Targets

SEMR has been the topic of a number of recent research reports. Northland Capmk raised Semrush to a "strong-buy" rating in a research report on Tuesday, January 14th. Needham & Company LLC reissued a "buy" rating and set a $18.00 target price on shares of Semrush in a research report on Wednesday, January 15th. Jefferies Financial Group lifted their target price on Semrush from $17.00 to $21.00 and gave the stock a "buy" rating in a research report on Monday, February 3rd. Northland Securities initiated coverage on Semrush in a research report on Tuesday, January 14th. They set an "outperform" rating and a $18.00 target price on the stock. Finally, Morgan Stanley raised Semrush from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $17.00 to $20.00 in a research report on Monday, January 13th. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Semrush has a consensus rating of "Moderate Buy" and an average target price of $17.88.

Semrush Stock Up 0.2 %

The business has a fifty day simple moving average of $14.55 and a two-hundred day simple moving average of $14.05. The company has a market capitalization of $2.61 billion, a price-to-earnings ratio of 222.72 and a beta of 1.69.

Insider Buying and Selling at Semrush

In other news, Director Dmitry Melnikov sold 44,592 shares of Semrush stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $12.76, for a total value of $568,993.92. Following the completion of the transaction, the director now owns 8,978,501 shares in the company, valued at approximately $114,565,672.76. The trade was a 0.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Eugenie Levin sold 6,943 shares of Semrush stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $11.74, for a total transaction of $81,510.82. Following the completion of the transaction, the president now owns 580,549 shares of the company's stock, valued at $6,815,645.26. This trade represents a 1.18 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 351,090 shares of company stock valued at $4,736,123. 57.83% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Verition Fund Management LLC raised its stake in shares of Semrush by 278.9% in the third quarter. Verition Fund Management LLC now owns 134,531 shares of the company's stock valued at $2,113,000 after acquiring an additional 99,021 shares during the last quarter. Barclays PLC raised its position in Semrush by 115.2% in the 3rd quarter. Barclays PLC now owns 102,407 shares of the company's stock worth $1,609,000 after purchasing an additional 54,830 shares during the last quarter. SG Americas Securities LLC raised its position in Semrush by 329.4% in the 4th quarter. SG Americas Securities LLC now owns 56,089 shares of the company's stock worth $666,000 after purchasing an additional 43,027 shares during the last quarter. VELA Investment Management LLC bought a new position in Semrush in the 3rd quarter worth approximately $701,000. Finally, FMR LLC raised its position in Semrush by 19.4% in the 3rd quarter. FMR LLC now owns 2,876,365 shares of the company's stock worth $45,188,000 after purchasing an additional 467,517 shares during the last quarter. Institutional investors own 32.86% of the company's stock.

About Semrush

Semrush Holdings, Inc develops an online visibility management software-as-a-service platform in the United States, the United Kingdom, and internationally. The company enables companies to identify and reach the right audience for their content through the right channels. Its platform enables the company's customers to understand trends and act upon insights to enhance the online visibility, and drive traffic to their websites and social media pages, as well as online listings, distribute targeted content to their customers, and measure the digital marketing campaigns.